Stocks rose Thursday as traders assessed the durability of the economic recovery to inflationary pressures and a looming reduction in the Federal Reserve’s pandemic-era stimulus.

Equities climbed in Japan, South Korea and Australia. U.S. futures pushed higher after Wall Street snapped a three-day losing streak, with the tech-heavy Nasdaq 100 outperforming the S&P 500.

The Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, rose 0.46% to 18,263 as of 7 a.m.

Longer term Treasuries pared a rally, while a key part of the Treasury yield curve has flattened to around a one-year low. U.S. inflation held above 5% and Fed minutes signaled a tapering of bond purchases from mid-November or mid-December. Meanwhile, a 30-year Treasury auction drew strong demand.

Crude oil stabilized above $80 a barrel and gold was near the highest in nearly a month. In cryptocurrencies, Bitcoin has resumed its rally, taking the largest token above $57,000.

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